South Korea's June CPI Expected to Exceed 3% for Second Consecutive Month, at 3.2% Year-on-Year

According to Jin10 data, South Korea's headline consumer price index (CPI) is expected to exceed 3% for a second consecutive month in June 2026. Economists surveyed by the Wall Street Journal predict a year-on-year increase of 3.2% for June, up from 3.1% in May, exceeding the Bank of Korea's 2% inflation target. On a month-on-month basis, the index is expected to rise 0.1% in June, compared with a 0.5% increase in the previous month. DBS Group economist Ma Tieying noted that accumulated increases in raw material costs and won weakness continue to feed into the economy. The analyst expects the Bank of Korea to raise rates once in July and again in the fourth quarter.
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